Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0508%/8h= −55.6% APRpaid last 24h −0.064%

Price spread now: Bitget against Aevo+0.398%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,139as in the Price arb table

costs, in and out, $10k−$1,17811.778% of the position

Long on Aevo Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.677%−$68 · spread now +0.398%, 7d avg +0.009%

Together, before fees−0.782%−$78 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.389% dearer against Aevo than usual: you sell high and buy low (spread +0.398% now, against its 7-day average of +0.009%): +$39 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.105% in total) that is about 26 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000PEPE-PERP	0.000004997	0.0608	pay 0.0076% / 1h	32m 43s	$141K	—	3x
Short	Bitget PEPEUSDT	0.000005017	0.0100	get 0.0100% / 8h	5h 32m	$46.2M	$172.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee BitgetbpOrdersPrice spread, now +0.398%Rate

Funding earned: −$106.68
Price spread: +0.398% → +0.009%: $38.92
Slippage, 4 orders: −$1,149.78
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,245.54
Costs to cover: 11.778%
Break-even: never at this rate

Slippage from Aevo: live order book, 31 min ago; Bitget: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 31 min ago	279.53 bp	589.9 bp −$590	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.91 bp	10.0 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PEPE-USD	0.0000%	1h	0.000005007	+0.200%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005001	+0.076%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005017	+0.400%	$63K	$136K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005012	+0.294%	$97.8M	$336.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005014	+0.340%	$164.5M	$74.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005011	+0.284%	$25.6M	$62.4M	75x	as long as short
Bitget PEPEUSDTshort	+0.0100%	8h	0.000005017	+0.398%	$46.2M	$172.2M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	+0.891%	$681K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005060	+1.270%	$36K	$434K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005014	+0.342%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004972	−0.496%	$568K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005003	+0.113%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0317%	8h	0.000005019	+0.440%	$45.2M	$584.2M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0317%	8h	0.000005010	+0.250%	$33K	$24K	20x	as long as short
BloFin PEPE-USDT	+0.0436%	8h	0.000005015	+0.360%	$4.3M	$25.1M	75x	as long as short
BingX 1000PEPE-USDC	+0.0575%	8h	0.000005008	+0.226%	—	$2.3M	—	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005011	+0.280%	$908K	$31.2M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0583% / S −0.0908%	1h	0.000005000	+0.060%	$49K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0585%	1h	0.000005016	+0.380%	$2K	$12K	10x	as long as short
Extended 1000PEPE-USD	+0.0608%	1h	0.000005017	+0.410%	$530K	$226K	25x	as long as short
Aevo 1000PEPE-PERPlong	+0.0608%	1h	0.000004997	long leg	$141K	—	3x
MEXC PEPE_USDT	+0.0611%	8h	0.000005009	+0.230%	$94.6M	$289.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0614%	8h	0.000005016	+0.372%	$140.7M	$1.20B	75x	as long as short
Aster 1000PEPEUSDT	+0.0694%	8h	0.000005016	+0.377%	$1.8M	$9.1M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0765%	8h	0.000005010	+0.264%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0860%	1h	0.000005059	+1.241%	$99K	$752K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0880%	8h	0.000005015	+0.364%	$2.3M	$7.0M	50x	as long as short
Nado kPEPE-PERP	+0.0915%	1h	0.000005002	+0.110%	$181K	$869K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0936%	1h	0.000005018	+0.422%	$95K	$624K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0949%	1h	0.000005011	+0.280%	$61K	$114K	25x	as long as short
01 Exchange kPEPEUSD	+0.0968%	1h	0.000005024	+0.540%	$606	$3K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+2.161%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1312%	1h	0.000005019	+0.440%	$695K	$8.0M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1388%	1h	0.000005015	+0.352%	$4.2M	$15.1M	50x	as long as short
Hyperliquid kPEPE	+0.1737%	1h	0.000005017	+0.400%	$53.5M	$139.2M	10x	as long as short